Oil prices in international markets recorded a notable increase of around 3% at the close of weekly trading, driven by a strong buying wave that pushed the benchmark Brent crude above the $117 per barrel level—its highest price peak since March 19.
Performance of Key Oil Benchmarks
The trading session witnessed rapid upward momentum across major energy indicators:
Brent Crude: Rose by nearly 3%, settling above the $117 per barrel threshold for the first time in several weeks.
U.S. Crude (WTI): Posted strong gains of 3.6%, rising to $103.05 per barrel.
Drivers of the Surge and Market Concerns
This price jump reflects growing investor concerns regarding the stability of global supply chains. Escalating geopolitical tensions have added a risk premium to energy futures contracts, fueling speculation about continued volatility and elevated prices in the near term.
